FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

ssi_usd-chf_body_Picture_2.png, FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

USDCAD Retail forex trading crowds have increased their net-long US Dollar (ticker: USDOLLAR) position against the Canadian Dollar, and a contrarian view of crowd sentiment favors USDCAD declines.

Crowd net positioning is now at its most bullish since the pair traded below C$0.9900 in October, and such one-sided sentiment warns that the pair could continue lower.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3526+0.0001+0.01%
    USDSGD=X
    1.5552-0.0001-0.01%
    EURSGD=X
    1.9660+0.0001+0.01%
    GBPSGD=X
    79.0094-0.1559-0.20%
    SGDJPY=X
    5.7389-0.0004-0.01%
    SGDHKD=X
    2.9476-0.0002-0.01%
    SGDMYR=X
    9,808.6699-0.5801-0.01%
    SGDIDR=X
    4.7987-0.0011-0.02%
    SGDCNY=X
    1.0122-0.0001-0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,288.20-7.60-0.59%
    GCM16.CMX
    17.46-0.22-1.26%
    SIN16.CMX
    87.23-3.50-3.86%
    ^XAU
    2.22-0.05-2.16%
    HGN16.CMX
    43.88-0.90-2.01%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.26-0.06
    ^FVX
    1.80-0.07
    ^TNX
    2.66-0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.106-0.001-0.93%
    5I0.SI
    0.43-0.03-6.52%
    N21.SI
    1.295+0.010+0.78%
    N03.SI
    0.099-0.003-2.94%
    5DN.SI
    0.133+0.002+1.53%
    40E.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.78+0.08+12.23%
    5ER.SI
    0.23+0.03+12.20%
    5UZ.SI
    0.187+0.017+10.00%
    A55.SI
    0.33+0.03+10.00%
    BOU.SI
    0.58+0.04+8.41%
    BEI.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.166-0.054-24.55%
    O08.SI
    0.40-0.10-20.00%
    AWC.SI
    0.225-0.045-16.67%
    S46.SI
    0.175-0.024-12.06%
    D79.SI
    0.25-0.03-10.71%
    5PC.SI